Why do I need a will?

Making a Will is the only way to ensure that your wishes are carried out after your death.

Having a Will is a safeguard and ensures that your estate will be distributed to your family as you wish.

If you have not made a valid Will, your property will pass according to the laws of Intestacy. This may not be what you would have wished and in any event it is likely to take longer to finalise than if you had made a Will, during which time your beneficiaries may not be able to draw any money from your estate.

The Law of the Land, as set out in The Administration of Estates Act 1925 and applicable to England and Wales states that: If your estate is worth over £5000.00 and you have not made a Will, then your estate will be distributed under the intestacy laws.

If you are a parent – you should consider who would look after your orphaned children in the event of your death. This is particularly important in the case of ‘one parent’ families or unmarried parents living together where a valid Will appointing guardians is imperative. Otherwise, Social Services and the Courts may decide your children’s future. The outcome may not be according to your wishes.

If you are married – do not assume ‘my other half will get everything’. Children, siblings or parents may have a claim. If you are living as a couple but not legally married, you will be treated as a single person and a single partner may get nothing at all.

If you are married with children and you die without a Will then your spouse will get the first £125,000 and personal chattels plus the interest only from half the remaining estate. The other half will go to the children immediately, along with the first half when your spouse dies.

If you are married with no children and you die without a Will then your spouse will get the first £200,000 and personal chattels plus half the balance of your estate. The remainder will pass to your parents. If they have both died, it will pass to your brothers and sisters. If you do not have any then all of your estate will pass to your surviving spouse – property in joint names may pass to the survivor.

If you are single – you will want the estate to be divided amongst friends, relatives and charities of your choice in the proportions that you want.

If you are single and living with someone – your partner will not automatically inherit anything when you die unless you write a Will. Today it is common practice for people to live together outside of Wedlock. If one of the partners die, the other does not automatically receive anything, even if they have been together for years.

If you are retired – it is possible you made a Will a long time ago. If so, it will need updating to include additional grandchildren or deletion of persons you no longer feel you wish to leave anything to.